Background of the Study
Mobile banking has emerged as a significant tool in enhancing financial inclusion, particularly in developing economies like Nigeria. It offers an accessible and efficient means for individuals and small businesses to conduct financial transactions, access credit, and save money. The widespread adoption of mobile banking has been driven by the increasing use of smartphones and the need for more inclusive financial services (Okafor & Akinyele, 2024). For small business owners in Gombe State, mobile banking has become a vital channel for managing business transactions, receiving payments, and accessing microloans, thus promoting financial inclusion. However, despite its benefits, the adoption and effective use of mobile banking services remain inconsistent among traders, particularly in rural areas.
This study explores the impact of mobile banking on the financial inclusion of small business owners in Gombe State, specifically traders. It examines how mobile banking facilitates access to financial resources and how it influences their business operations.
Statement of the Problem
Financial inclusion is a critical challenge for small business owners in many parts of Nigeria, including Gombe State, where access to formal financial institutions is limited. Mobile banking has the potential to bridge this gap by providing small businesses with the tools to manage their finances more effectively. However, despite its potential, mobile banking adoption is not universal, and many traders still face challenges such as limited digital literacy, poor internet access, and concerns about security. The impact of mobile banking on the financial inclusion of traders in Gombe State has not been sufficiently explored.
Objectives of the Study
Research Questions
Research Hypotheses
Scope and Limitations of the Study
This study focuses on small business owners, specifically traders, in Gombe State. Limitations include potential biases in self-reported data from traders and varying levels of mobile banking familiarity.
Definitions of Terms
Small Business Owners: Entrepreneurs who own and manage small-scale businesses, including retail and service-oriented businesses.
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